According to a representative study by the Good Finance, 13 percent of internet users plan to buy a home within one According to research, 13 percent of those affected would buy and 9 percent would sell real estate within the next 12 months. The results suggest that the real estate market may remain in demand – that is, more people are planning to buy than to sell – which suggests further price increases . 70 percent of those considering buying a home would buy the property themselves, 18 percent mentioned it for other purposes, such as their child’s, and 13 percent said they would invest.
Credit cravings are on the rise – most would not succeed without it
Significant demand for loans indicates that nearly two-thirds – 64 percent – of those planning to buy a home in the next year would finance their property with a home loan . Erika Trencsán, senior financial expert for the Good Finance, commenting on the details of the study, said: “Due to rising property prices, fewer people would buy their next home solely from their savings or the sale of their existing real estate. Most already count on home loans. ”
The Good Finance expert also added that the majority of respondents are open to comparing the cost of financial products as they can significantly reduce their expenses. 78% of those planning to buy a home in the next year would compare the terms of a home loan available at different banks before applying. ”
Caution is warranted, it is worth comparing
Before buying a property, you may want to look closely with the help of a loan expert to find the best personalized solution, as there are still significant differences in home loans . According to estimates by the Good Finance, at the beginning of March the most favorable 20-year fixed-term mortgage loans for a 20-year term were available with a full APR of 5.6% to 5.7%, while the most expensive ones were close to 9%. In case of cheaper home loans, the total repayment amount is HUF 16.5 million, while for the most expensive loans the total amount will be HUF 20 million. “Due to the strong demand in the real estate market, choosing the best loan tailored to the needs of buyers can save you more than bargain with sellers,” added Erika Trencsán.
About the Good Finance
The Good Finance was launched in 2011 as Hungary’s first credit comparison site. The Good Finance offers easy comparisons of more than 30 banks, helping clients choose the optimal solution for their clients, who are familiar with internal banking processes. In 2015, the site became part of the property.com group, a market leader in real estate advertising. As part of the mission of the Group, the Good Finance, as an independent, ethical player, provides a complete, transparent view of the banking and financial products market to help people reach their goals efficiently, saving money and time.